Sewalls Point Single Family Market Report October 2017

Sewalls Point Real Estate Snapshot, Residential Sales for October 2017

There are currently 41 active listings (Down by 2 homes from last month)

15 home sales are pending and awaiting close or lender approval (Increased by 11 homes from September)

1 Homes sold in June (Decreased by 3 homes sales from September)

The single family real estate market in Sewalls Point continues to have less inventory of available homes.  Pending sales rose sharply for last month while closed sales were off.  Most likely a result of Hurricane Irma from the previous month that closed the real estate business for a few weeks.

The absorption rate shot up to 41 months, in September was 10.8 months.  An extreme buyer’s market for Sewalls Point single family homes.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to October 2016, the inventory was 79 homes on the market, 10 pending sales and there were 6 closed sales.  Considerably better sales activity last year, also with much greater inventory of homes for sale..

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Sewalls Point Single Family Market Report September 2017

Sewalls Point Real Estate Snapshot, Residential Sales for September 2017

There are currently 43 active listings (Down by 11 homes from last month)

4 home sales are pending and awaiting close or lender approval (Decreased by 2 homes from August)

4 Homes sold in June (Increased by 3 homes sales from August)

The single family real estate market in Sewalls Point had a large drop of inventory for September.  Sales increased from last month but pending sales were off.  Some of this activity could have been impacted by Hurricane Irma which shut down real estate for a little over a week last month.

The absorption rate dropped to 10.8  months, in August was 54 months.  Still a buyers’ market for Sewalls Point single family homes but not nearly as extreme as the previous month.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to September 2016, the inventory was 69 homes on the market, 10 pending sales and there were 7 closed sales.  Considerably better sales activity last year.

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Sewalls Point Single Family Market Report August 2017

Sewalls Point Real Estate Snapshot, Residential Sales for August 2017

There are currently 54 active listings (Up by 11 homes from last month)

6 home sales are pending and awaiting close or lender approval (Decreased by 2 homes from June)

1 Homes sold in June (Decreased by 7 homes sales from June)

The single family real estate market in Sewalls Point had very weak closed sales for August and the pending (future0 sales activity is also not very impressive.  The inventory is down from last year as well.

The absorption rate balooned to 54  months, in June it was 3.6 months.  An extreme buyers’ market for Sewalls Point single family homes after two earlier good months for sellers.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to August 2016, the inventory was 66 homes on the market, 14 pending sales and there were 6 closed sales.  Considerably better sales activity this year and with reduced inventory.

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Sewalls Point Single Family Market Report July 2017

Sewalls Point Real Estate Snapshot, Residential Sales for July 2017

There are currently 43 active listings (Down by 14 homes from last month)

8 home sales are pending and awaiting close or lender approval (Decreased by 6 homes from June)

8 Homes sold in June (Decreased by 8 homes sales from June)

The single family real estate market in Sewalls Point continues with strong activity for July.  Sales were off from last month but remain quite good with a much smaller inventory of available homes.

The absorption rate plunged to 5.4 months, in June it was 3.6 months.  Holding on to a sellers’ market for Sewalls Point single family homes for the second month in a row.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to July 2016, the inventory was 69 homes on the market, 11 pending sales and there were 2 closed sales.  Considerably better sales activity this year and with reduced inventory.

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Sewalls Point Single Family Market Report June 2017

Sewalls Point Real Estate Snapshot, Residential Sales for June 2017

There are currently 57 active listings (Down by 3 homes from last month)

14 home sales are pending and awaiting close or lender approval (Decreased by 8 homes from May)

16 Homes sold in May (Increased by 7 homes sales from May)

The single family real estate market in Sewalls Point contined to show very positive results for June.  Sales were the best in a number of years and while the pending numbers were down for the month, they still are quite good.

The absorption rate plunged to 3.6 months, in May it was 6.7 months.  For the first time in years, a strong sellers market for Sewalls Point single family homes.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to June 2016, the inventory was 76 homes on the market, 5 pending sales and there were 10 closed sales.  Considerably better activity this year and with reduced inventory.

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Sewalls Point Single Family Market Report May 2017

Sewalls Point Real Estate Snapshot, Residential Sales for May 2017

There are currently 60 active listings (Down by 5 homes from last month)

22 home sales are pending and awaiting close or lender approval (Increased by 4 homes from April)

9 Homes sold in April (Increased by 2 homes sales from April)

The single family real estate market in Sewalls Point showed some very positive results for May.  The strong pending numbers should also result in good sales numbers for the coming months.

The absorption rate dropped to 6.7 months, in April it was 9.3 months.  Into a balanced market after many, many months of a buyers’ market for Sewalls Point.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to May 2016, the inventory was 70 homes on the market, 11 pending sales and there were 9 closed sales.  Identical number of closed sales as last year, but a significant increase in pending sales and on a reduced inventory.

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Sewalls Point Single Family Market Report April 2017

Sewalls Point Real Estate Snapshot, Residential Sales for April 2017

There are currently 65 active listings (Down by 1 home from last month)

18 home sales are pending and awaiting close or lender approval (Decreased by 3 homes from March)

7 Homes sold in March (Decreased by 2 homes sales from March)

The single family real estate market in Sewalls Point retreated slightly after a strong March.  Still, better activity than last year, but it could be stronger.

The absorption rate rose to 9.3 months, in March it was 7.3 months.  Still a strong buyers’ market.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to April 2016, the inventory was 68 homes on the market, 19 pending sales and there were 3 closed sales.  Similar inventory and pending sales as compared to last year with better closed sales for this April.

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Sewalls Point Single Family Market Report March 2017

Sewalls Point Real Estate Snapshot, Residential Sales for March 2017

There are currently 66 active listings (Down by 1 home from last month)

21 home sales are pending and awaiting close or lender approval (Increased by 6 homes from February)

9 Homes sold in February (Increased by 4 homes sales from February)

The single family real estate market in Sewalls Point showed one of the best months in quite some time with increases in closed sales as well as homes under contract.

The absorption stayed at 7.3 months, in February it was 16.8 months.  Still a buyers’ market but getting close to a balanced one.  One of the better months in some time for Sewalls Point real estate.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to March 2016, the inventory was 70 homes on the market, 14 pending sales and there were 6 closed sales.  Considerably better activity this year.

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Sewalls Point Single Family Market Report February 2017

Sewalls Point Real Estate Snapshot, Residential Sales for February 2017

There are currently 67 active listings (Unchanged from last month)

15 home sales are pending and awaiting close or lender approval (Increased by 4 homes from January)

5 Homes sold in January (Increased by 1 homes sales from January)

The single family real estate market in Sewalls Point continues to show somewhat weaker activity though I’m seeing quite a bit of curent activity and the March report may show improvements.

The absorption stayed at 16.8 months, in January it was also 16.8 months.  A strong buyers’ market once again.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to February 2016, the inventory was 56 homes on the market, 12 pending sales and there were 6 closed sales.  Better volume of sales and pendings last winter with a smaller inventory.

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Sewalls Point Single Family Market Report January 2017

Sewalls Point Real Estate Snapshot, Residential Sales for January 2017

There are currently 67 active listings (Up by 5 homes since last month)

11 home sales are pending and awaiting close or lender approval (Increased by 1 home from December)

4 Homes sold in December (Decreased by 7 homes sales from December)

The single family real estate market in Sewalls Point retreated dramatically after a strong December.  Inventory rose while closed sales were way off.

The current absorption rate shot up to 16.8 months, in December it was 5.6 months.  Quite the see-saw ride for the Sewalls Point real estate market going back into a buyers’ market.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to January 2016, the inventory was 57 homes on the market, 15 pending sales and there were 4 closed sales.  Identical number of closed sales while less pending and greater inventory for this year when compared with last January.

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Sewalls Point Single Family Market Report December 2016

Sewalls Point Real Estate Snapshot, Residential Sales for December 2016

There are currently 62 active listings (Down by 12 homes since last month)

10 home sales are pending and awaiting close or lender approval (Decreased by 1 home from November)

11 Homes sold in December (Increased by 9 homes sales from November)

The single family real estate market in Sewalls Point showed a surprising surge of activity for December 2016 after two pretty week months in the fall.  Pending sales remained steady and there was a strong increase in closed sales.  The inventory of available homes also declined.

The current absorption rate plunged to 5.6 months, in November it was 37 months.  Into a slight sellers market for Sewalls Point.  It’s been quite a while for Sewalls Point to enjoy such robust activity.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to December of 2015, the inventory was 51 homes on the market, 13 pending sales and there were 3 closed sales.  Showing much better activity this year as opposed to 2015.

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Sewalls Point Single Family Market Report November 2016

Sewalls Point Real Estate Snapshot, Residential Sales for November 2016

There are currently 74 active listings (Down by 5 homes since last month)

11 home sales are pending and awaiting close or lender approval (Increased by 1 home from October)

2 Homes sold in November (Decreased by 4 homes sales from October)

The single family real estate market in Sewalls Point took a second step backward for November 2016 after improving numbers throughout the summer.  Pending sales remained steady but a considerable drop in closed sales.  At least the inventory declined slightly.

The current absorption rate skyrocketed to 37 months, in October it was 13.2 months.  Hopefully we’ll see this number go down as we enter the winter season in the next few months.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to November of 2015, the inventory was 51 homes on the market, 13 pending sales and there were 3 closed sales.  November 2015 was a much better month for Sewalls Point real estate than this year.

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Sewalls Point Single Family Market Report October 2016

Sewalls Point Real Estate Snapshot, Residential Sales for October 2016

There are currently 79 active listings (Up by 10 homes since last month)

10 home sales are pending and awaiting close or lender approval (Unchanged from September)

6 Homes sold in October (Decreased by 1 home sales from September)

The single family real estate market in Sewalls Point took a step back for October 2016 after improving numbers throughout the summer.  Pending and closed sales remained fairly steady but the inventory of available homes jumped up unexpectedly.

The current absorption rate jumped to 13.2 months, in September it was 9.9 months.  Retreating from the improved numbers for last month.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to October of 2015, the inventory was 62 homes on the market, 9 pending sales and there were 8 closed sales.  October 2015 showed greater closed activity, slightly less pending activity though this was with considerably less inventory.

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Sewalls Point Single Family Market Report September 2016

Sewalls Point Real Estate Snapshot, Residential Sales for September 2016

There are currently 69 active listings (Up by 3 homes since last month)

10 home sales are pending and awaiting close or lender approval (Decreased by 4 homes from August)

7 Homes sold in September (Increased by 1 home sales from August)

The single family real estate market in Sewalls Point for September continues to improve from previous months as well as last year.  Though, we also are seeing a market increase in inventory as prices continue to rise for the desirable Sewalls Point community.

The current absorption rate dropped to 9.9 months, in August it was 11 months.  Still a sellers market, but a large improvement from earlier summer numbers.  A 6 to 7 month absorption rate is considered a balanced market where neither the seller nor buyer have an advantage.

Comparing the results to September of 2015, the inventory was 54 homes on the market, 15 pending sales and there were 5 closed sales.  Better closed sales for this year, but we also have a greater number of available homes for sale.

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